Conventional Loan Calculator — South Carolina
In South Carolina, one-unit loans up to $832,750 are conforming. With 10% down on the typical $306,000 home, the $275,400 loan carries estimated PMI of 0.72% ($165/mo), which drops off after about 9 years once the balance reaches 80% of the price.
South Carolina has the 5th-lowest effective property tax rate of the 50 states at 0.49% — $1,285 less a year than the 0.91% state average on a $306,000 home. Homeowners insurance averages $2,974 a year, the 16th-highest premium nationally and $254 more than the typical state.
Loan Parameters
Total Monthly Payment
$2,376
Principal & Interest + Taxes + Insurance
APR 7.488%
Total Interest
$386,202
Total Cost
$812,327
Advanced Parameters
Private Mortgage Insurance (PMI)
Your down payment is below 20%. PMI is estimated at 0.72% annually and is removed here when your LTV reaches 80%.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Feb 2035
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | PMI | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $22,054 | $2,781 | $19,272 | $1,983 | $272,619 | $33,381 |
| Year 2 | $22,054 | $2,983 | $19,070 | $1,983 | $269,635 | $36,365 |
| Year 3 | $22,054 | $3,200 | $18,854 | $1,983 | $266,435 | $39,565 |
| Year 4 | $22,054 | $3,432 | $18,621 | $1,983 | $263,003 | $42,997 |
| Year 5 | $22,054 | $3,682 | $18,372 | $1,983 | $259,321 | $46,679 |
| Year 6 | $22,054 | $3,949 | $18,105 | $1,983 | $255,372 | $50,628 |
| Year 7 | $22,054 | $4,236 | $17,818 | $1,983 | $251,136 | $54,864 |
| Year 8 | $22,054 | $4,543 | $17,510 | $1,983 | $246,593 | $59,407 |
| Year 9 | $22,054 | $4,873 | $17,180 | $661 | $241,720 | $64,280 |
| Year 10 | $22,054 | $5,227 | $16,827 | — | $236,493 | $69,507 |
| Year 11 | $22,054 | $5,606 | $16,447 | — | $230,887 | $75,113 |
| Year 12 | $22,054 | $6,014 | $16,040 | — | $224,873 | $81,127 |
| Year 13 | $22,054 | $6,450 | $15,603 | — | $218,423 | $87,577 |
| Year 14 | $22,054 | $6,919 | $15,135 | — | $211,504 | $94,496 |
| Year 15 | $22,054 | $7,421 | $14,633 | — | $204,083 | $101,917 |
| Year 16 | $22,054 | $7,960 | $14,094 | — | $196,123 | $109,877 |
| Year 17 | $22,054 | $8,538 | $13,516 | — | $187,586 | $118,414 |
| Year 18 | $22,054 | $9,158 | $12,896 | — | $178,428 | $127,572 |
| Year 19 | $22,054 | $9,823 | $12,231 | — | $168,605 | $137,395 |
| Year 20 | $22,054 | $10,536 | $11,518 | — | $158,070 | $147,930 |
| Year 21 | $22,054 | $11,301 | $10,753 | — | $146,769 | $159,231 |
| Year 22 | $22,054 | $12,121 | $9,932 | — | $134,647 | $171,353 |
| Year 23 | $22,054 | $13,002 | $9,052 | — | $121,646 | $184,354 |
| Year 24 | $22,054 | $13,946 | $8,108 | — | $107,700 | $198,300 |
| Year 25 | $22,054 | $14,958 | $7,095 | — | $92,742 | $213,258 |
| Year 26 | $22,054 | $16,044 | $6,009 | — | $76,698 | $229,302 |
| Year 27 | $22,054 | $17,209 | $4,844 | — | $59,489 | $246,511 |
| Year 28 | $22,054 | $18,459 | $3,595 | — | $41,030 | $264,970 |
| Year 29 | $22,054 | $19,799 | $2,255 | — | $21,231 | $284,769 |
| Year 30 | $22,048 | $21,231 | $817 | — | $0 | $306,000 |
Conventional Loan numbers for South Carolina
- Typical South Carolina home value
- $306,000
- 10% down ($30,600) · Zillow, August 31, 2026
- Loan amount
- $275,400
- conforming in all 46 South Carolina counties
- Estimated monthly payment
- $2,376
- APR 7.488%
- South Carolina property tax
- 0.49%
- $125/mo
- Homeowners insurance
- $2,974/yr
- $248/mo
- South Carolina conforming limit
- $832,750
- Above this, the loan is jumbo
- PMI
- 0.72% · $165/mo
- Drops off after 9 years
How much house can you afford in South Carolina with a conventional loan?
Highest price where principal, interest, South Carolina property tax, insurance and PMI stay within 28% of gross income —10% down, 30-year fixed at 7.03%. Other debts lower these numbers.
| Household income | Housing budget / mo | Max home price | Down payment | vs typical home |
|---|---|---|---|---|
| $50,000 | $1,167 | $132,000 | $13,200 | 43% |
| $75,000 | $1,750 | $216,000 | $21,600 | 71% |
| $100,000 | $2,333 | $299,000 | $29,900 | 98% |
| $125,000 | $2,917 | $383,000 | $38,300 | 125% |
| $150,000 | $3,500 | $467,000 | $46,700 | 152% |
| $200,000 | $4,667 | $635,000 | $63,500 | 207% |
| $250,000 | $5,833 | $803,000 | $80,300 | 262% |
Conventional vs other loan types in South Carolina
$306,000 home, each program's typical minimum or default down payment, current average 30-year rate.
| Loan type | Down | Loan amount | Upfront fee | Monthly MI | Total / month | APR |
|---|---|---|---|---|---|---|
| Conventional | 10% · $30,600 | $275,400 | — | $165 PMI | $2,376 | 7.488% |
| FHA | 3.5% · $10,710 | $300,458 | UFMIP $5,168 | $137 MIP | $2,515 | 7.761% |
| VA | 0% · $0 | $312,579 | Funding fee $6,579 | $0 | $2,459 | 7.242% |
| JumboLoan is conforming (≤ $832,750) | 20% · $61,200 | $244,800 | — | $0 | $2,006 | 7.030% |
Frequently asked questions
What is the monthly payment on a $306,000 home with a conventional loan in South Carolina?
Estimated $2,376 per month ($1,838 principal & interest, $125 property tax, $248 insurance, $165 PMI) at 7.03% for 30 years, with 10% down. APR 7.488%.
How much is PMI on a South Carolina conventional loan?
At 90% loan-to-value, PMI is estimated at 0.72% a year ($165/mo). It can be removed once the balance reaches 80% of the home's original value.
Explore related calculators
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Data sources & assumptions
- Freddie Mac Primary Mortgage Market Survey (PMMS) — Weekly average as of September 24, 2026
- Zillow Home Value Index (ZHVI), typical home value, all homes — Default home prices; typical value as of August 31, 2026
- FHFA 2026 Conforming Loan Limit Values (one-unit) — 2026 one-unit limits, 56 states & territories
- Effective statewide property tax rate (Tax Foundation, 2026 projections) — Statewide effective rate; county rates vary
- Average annual homeowners premium, $300K dwelling / $1K deductible (industry survey averages) — Statewide average premium
- CFPB — What is private mortgage insurance?
- Homeowners Protection Act (PMI cancellation at 78–80% LTV)
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.